E-GO APP, a provider of fantasy esports, has performed a capital injection of $300,000 despite difficult financial and geopolitical times. The capital is a combination of a pre-seed round and a growth loan from a large bank in Sweden. There is also an option of additional $200,000 in growth loans from another Swedish bank during the second half of 2023.
How will E-GO APP use the funding?
The funds will be used to further develop E-GO APP’s B2B product and the social features of the platform, to make it more accessible to endemic and non-endemic businesses, and to set a new standard for how esport fans experience the action together with friends.
E-GO APP’s B2B product is designed to enable easy access to brand engagement with esport fans globally, for endemic and non-endemic businesses. The company has seen strong interest in its product, which is expected to further grow as the industry expands.
What does the funding mean for E-GO APP?
“Reaching our goal of raising $200,000 in this pre-seed round, despite such challenging times, is a testament to the strength of our product, our team, and our ability to adapt when faced with testing times. And I could not be prouder, nor could I be more thankful to our amazing cap-table who continue to believe in us,” said Viktor Maisey, CEO of E-GO APP.
“We are committed to continuing our mission of delivering a best-in-class fantasy esports experience to our users, and this funding will enable us to do so even more effectively.”
“We believe in the future of esports, and we are excited to be a part of it. This funding will allow us to keep innovating and grow, and we look forward to continue to deliver great results for our customers and unparalleled experiences to our users,” Maisey said.